Business
AfCFTA: Stakeholders Outline Solutions For Successful Implementation
Stakeholders in the Africa Continental Free Trade Area (AfCFTA) have called for private sector participation and creation of compatible trade policies to ensure successful implementation of the agreement.
Top government officials, industrialists, and financial services experts made these recommendations in Lagos yesterday at a webinar organised by the Commonwealth Enterprise and Investment Council.
The theme of the webinar was “Opportunities for Africa and the Rest of the World in the Africa Continental Free Trade Area.”
President, Lagos Chamber of Commerce and Industry (LCCI), Mrs Toki Mabogunje, stressed the need for increased private sector engagements in the advocacy, awareness, education and implementation stages of AfCFTA.
Mabogunje said that more private sector inclusion and participation in the AfCFTA decision-making processes would help improve the pace for the successful implementation of the agreement.
She advised relevant stakeholders to incorporate an informal trade structure into the AfCFTA to capture more Micro, Small and Medium Enterprises (MSME), particularly those owned by women.
“Should the private sector be carried along in all the decision-making processes, the AfCFTA would record great success because players are primarily private enterprises.
“We also noticed that most times, when we talk about the agreement, it’s all formal,
“What we need to do to capture more players is to incorporate an informal structure that would accommodate players in the informal sector that account for majority of the MSME so that they are not left out,” she said.
Director-General, LCCI, Dr Muda Yusuf, noted that the benefits and costs of the AfCFTA would vary from country to country due to function of preparedness, cost of production, quality of infrastructure and trade facilitation personnel.
Yusuf, therefore, called for the creation of compatible trade and foreign exchange policies to address issues surrounding trade facilitation.
“Countries are to address issues that could pose risks especially those still struggling with issues around the ports.
“Customs service has been a major source of threat to trade between countries and there is an urgent need to improve the quality of the custom services of participating countries.
“Rule of origin also poses a major threat, but we expect countries to leverage on the lessons of other regional economic communities and learn from it.
“We also seek to connect with the Commonwealth by leveraging the AfCFTA to strengthen global trade practices,” he said.
Vice President, Ghana, Mr Mahamudu Bawumia, noted that the creation of the AfCFTA was a long dream of Africa’s founding fathers.
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FCTA, Others Chart Path To Organic Agriculture Practices
The Federal Capital Territory Administration (FCTA) and other stakeholders have charted path to improved organic agriculture practices nationwide.
At a 2024 national organic and agroecology business summit held recently in Abuja, stakeholders took turn to speak on the additional areas of promoting the practices.
The Mandate Secretary, FCT Agriculture and Rural Development Secretariat (ARDS), Lawan Geidam, advocated for sustainable practice to develop resilient food systems that will benefit people.
The event, with the theme,”Towards Policies for Upscaling Organic Agroecological Businesses in Nigeria”, is aimed at fostering growth in the organic agriculture sector.
Geidam, who was represented by the Acting Director, Agric Services, in the Secretariat, Mr. Ofili Bennett, emphasised the success of organic and agroecological farming, reling on the active involvement of farmers, businesses and consumers.
He reassured attendees that the FCT Administration, led by the Minister, Nyesom Wike, and Minister of State, Dr. Mariya Mahmoud, remains dedicated to supporting initiatives that enhance the livelihood of residents.
Geidam described the partnership between the Secretariat and the organic and Agroecology initiative for a monthly exhibition and sale of organic products in the FCTA premises as a testament to this commitment.
“The ARDS remains committed to driving policies and initiatives that align with national goals and global standards”, Geidam said.
On her part, the Chairperson of Organic and Agroecology Initiative, Mrs. Janet Igho, urged residents to embrace healthy eating habits to sustain a good lifestyle. She stressed the importance of adopting organic practices, highlighting the benefits of going organic, growing organic and consuming organic products.
Igho expressed her optimism regarding the Agricultural Revival Programmes as articulated in President Bola Ahmed Tinubu’s “Renewed Hope Agenda”, which aims at fostering food and nutrition security.
She also extended her gratitude to ARDS for graciously allocating a space in the FCTA premises for the exhibition and sale of organic products, noting that the platform has been effectively used to advance the promotion of organic agriculture in FCT.
Igho outlined several benefits of organic agriculture which includes improved soil health, increased biodiversity, availability nutritious and healthy food and a reduced carbon footprint.
Stakeholders at the summit, underscored the critical need for enhanced private sector involvement and robust capacity building initiatives for farmers.
They highlighted the importance of implementing supportive policies to foster the growth of the organic agriculture sector.
In the light of the significant challenges facing Nigeria’s agricultural landscape, stakeholders decided that organic agricultural practices present sustainable solutions and a pathway for a more resilient and productive farming systems.
The three-day summit featured exhibitions showcasing organic foods, fruits, vegetables and fertilizers, providing an opportunity for residents to better appreciate the benefits of production and consumption of organic agricultural products.
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